Import relocations add to Wridgways profit


Wridgways continuing to perform strongly despite the economic environment, reporting record revenue

Wridgways says it is continuing to perform strongly despite the economic environment, reporting record revenue off the back of strong import business.

The country’s only listed relocation service firm has booked a half-year profit of $3.74 million for the six-months to December 31, up 5.3 percent on the same period in 2007.

The company says it is now one of the world’s largest receivers of overseas inbound household goods and personal effects.

"The import division has again performed particularly well whilst the export division has continued its strong contribution in consolidating our position as a premier world-wide relocation company," Wridgways says in a statement to the stock exchange.

The company describes the rapid changes in the economy as "unprecedented" and will "undoubtedly affect Wridgways business as the year progresses".

"Forecasting in such an unstable and volatile climate is extremely difficult but it should be expected that reduced corporate mobility and lower housing sales will impact the relocation industry in the second half of the financial year," it says.

But the company remains debt-free, it reports, and is "well positioned in the relocation market".

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